Page 14 - 2022 Insurity OE Guide FINAL

Optum Bank – Health Savings Account (HSA)

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to employees who are enrolled
in one of the HSA medical plans. An HSA allows you to set aside money on a pre-tax basis to pay for qualified medical
expenses. Money comes out of each paycheck and is deposited into your account for future use. Once you reach age 65
you can also use the money for non-medical expenses (although these amounts will be taxed as ordinary income).

Advantages of an HSA HSA Contribution Limits for 2022
(IRS reviews and sets limits annually)
O The money that you have remaining in your HSA at
INDIVIDUAL FAMILY
the end of the plan year will roll over to the following
plan year. Optum will provide you with a debit card Annual Maximum
Contribution $3,650 $7,300
to pay for qualified services such as doctor’s visits (set annually by the IRS)
and prescriptions, allowing you to conveniently pay
Annual Insurity
for health care costs. Should you need to order a Contribution $800 $1,600
second card or to check your balance you can (contributions made quarterly) ($200 per quarter) ($400 per quarter)
visit www.optumbank.com.
O Insurity also contributes into your HSA the annual Annual Employee
Maximum Contribution $2,850 $5,700
amount of $800 Individual / $1,600 Family. This (minus employer contribution)
amount will be divided and deposited on a quarterly
basis into your account. Your employee maximum Additional “Catch- Up” $1,000* $2,000**
Contribution for age 55+*
election in UKG Pro will reflect Insurity’s contribution.
To make changes to your HSA election at any time *Employees are eligible for a “catch-up” contribution of an additional
$1,000 (per year) into their HSA account the year they turn age 55.
you can utilize the Life Event in UKG Pro. **Spouses are also eligible for a “catch-up” contribution of $1,000.
However, the spouse must open a separate HSA account in their
Please note: UKG Pro does not prorate the employer own name.
contribution for New Hires or Life Events outside of
Open Enrollment and therefore reduces your ability to
contribute the full amount through payroll. If you would
like to contribute the full IRS annual maximum you may
need to make an additional contribution to your HSA
directly with Optum Bank.

For more
information visit
www.optumbank.com
or contact us at
1-866-234-8913

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